Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Congressional Memorandum On Hoarding Gold

Commodities / Gold and Silver 2010 Sep 18, 2010 - 06:19 AM GMT

By: D_Sherman_Okst


Best Financial Markets Analysis ArticleLet me be upfront: I hate gold (and silver). Hoarding isn’t beneficial to anyone. Yet my faith has been put in 5 G’s: G(religious edit)d, Gold, Guns & Grub. Having absolute faith in the 5th G - (the Government will continue to screw it up) is why I can have faith in the other four. Today I stumbled upon a colossal moron whose website clearly underscores the 5th G.

The reason we are why we are where we are today is because as David Walker says, “Our biggest deficit is our leaderships deficit”.

Let’s cut through the nicey-nicey crap.

The reason we are where we are today is because we have a bunch of morons that have robbed us blind. They have looted our retirement “trust fund.” Are talking about confiscating our 401(K)s and IRAs . Indebted us by “bailing out” out the imbeciles who used incredible amounts of stupidity (and lack of common sense regulation) to blow up the economy. Replaced capitalism with corporatocracy and turned our republic into some bread and circus empire.

The USA is bankrupt. Financially bankrupt. Ethically bankrupt. Constitutionally bankrupt and without a doubt it is the bankrupt leadership that drove us here.

From “Mutant Rat Epidemic Spreading Economic Black Plague” I wrote this about our 128 trillion dollars worth of debt:

“When you take in less, than you owe you are broke. When you take in less than you owe and what you can borrow and you still can’t pay what you owe - it is game over. When you take in less than you owe, and you borrow and you counterfeit to cover the difference - give up, you are drowning in debt.

Counterfeiting the difference only will make it worse.”

It doesn’t take a rocket scientist to understand why counterfeiting is illegal, or why countries use counterfeiting against their enemies during wars. We use counterfeiting against our own citizens.

People can run around and shout and scream deflation all they want. In my simple mind: Inflation is the size of the money supply/credit - and velocity means notta. It’s all about supply and demand. Make a lot of anything, including money, and its value goes down. History is littered with 3,800 Fiat currencies. Everyone of them reverted to their intrinsic value: 0.

Debt and counterfeiting are the two fastest ways to get to 0 and we are on a rocket sled speeding to 0. There is only one thing I can think of that will protect me from a dollar worth 0. So I’ve weighed my disgust for hoarding over my disgust for losing everything.

We have now have the colossal Moron Congressman posting “legal” memorandum with the subject: “A Brief Examination of the History of Executive Orders 6102 and 6206 Relating to the Hoarding of Gold Coins and Bullion.”

The piece says this: “The current U.S. monetary system is based on the use of paper money that is backed by the “full faith and credit” of the federal government.”

Faith: Am I supposed to believe that I should have faith in a monetary system that can’t pay its obligations?

Credit: Faith in credit when our creditors (Communist China et al) won’t lend us enough to meet our obligations?

Faith in our dollar when just the other day Communist China held a gun to our head and threatened to dump its treasuries if we insist on trade regulations?

Faith in the value of our dollar when we are counterfeiting the shortfall between what we take in with taxes, what we borrow versus what we owe?

Yeah, I got faith. Faith that the 5th G will destroy the value of our dollar and we will have a date with the ugly Miss Hyperinflation vis a vis a currency crisis.

And now we have some moron who wants to have a September 23rd hearing of the Subcommittee on Commerce, Trade, and Consumer Protection that will focus on legislation that would regulate gold-selling companies???????

You gotta be kidding me!

This exemplifies the 5th G.

America needs to be holding hearings on going bankrupt and reorganizing - not regulating the only thing that I can think of which will save me from what these morons have and continue to create.

In Summary: My faith in the 5Gs: (G*(religious edit)d, Gold, Guns, Grub & The Government Will Continue to Screw It Up) remains strong.

By D. Sherman Okst

Bernardston MA USA
davossherman @

I'm an ex-airline captain with about 15,000 hours and am amazed at all the BS we are taught. Most of my friends still in the business were also taught the wrong aerodynamic principles with respect to what makes planes fly. Aviation or economics, Keynes to Austrian - Bernulli to Newton we've been sold bad goods. It's amazing anything works as backwards as we do things.

© 2010 Copyright  D. Sherman Okst - Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


18 Sep 10, 18:51
Captains Roosevelt & Obama

Mr. Okst made a number of fine points. Yes, it's really sad that swarms of suckers (gold & silver bugs) swam towards the bait but got entangled in the net. But lo and behold! Captain Obama is about to pull up (confiscate) that net and will cast those suckers out, and the booty (gold & silver) will be his.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in